December 2018 DC Real Estate Market Conditions

Condos & Co-Ops

In Washington, DC, the median sold price for Condo & Coop properties for December was $468,000, representing a decrease of 2.5% compared to last month and an increase of 4.1% from Dec 2017. The average days on market for units sold in December was 51 days, 28% below the 5-year December average of 71 days. There was a 20.6% month over month decrease in new contract activity with 259 New Pendings; an 11.5% MoM decrease in All Pendings (new contracts + contracts carried over from November) to 392; and a 30.3% decrease in supply to 576 active units.

This activity resulted in a Contract Ratio of 0.68 pendings per active listing, up from 0.54 in November and a decrease from 0.76 in December 2017. The Contract Ratio is 9% lower than the 5-year December average of 0.75. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller’s favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer’s favor.

Attached Townhomes

In Washington, DC, the median sold price for Attached properties for December was $575,000, representing an increase of 1.6% compared to last month and an increase of 6.5% from Dec 2017. The average days on market for units sold in December was 48 days, 29% below the 5-year December average of 68 days. There was a 17.1% month over month decrease in new contract activity with 484 New Pendings; a 12.5% MoM decrease in All Pendings (new contracts + contracts carried over from November) to 770; and a 26.9% decrease in supply to 955 active units.
This activity resulted in a Contract Ratio of 0.81 pendings per active listing, up from 0.67 in November and a decrease from 0.91 in December 2017. The Contract Ratio is 14% lower than the 5-year December average of 0.94. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller’s favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer’s favor.

Detached Single Family

Market Update: Detached Homes

In Washington, DC, the median sold price for Detached properties for December was $793,000, representing a decrease of 11% compared to last month and a decrease of 5% from Dec 2017. The average days on market for units sold in December was 60 days, 24% below the 5-year December average of 79 days. There was a 21.8% month over month decrease in new contract activity with 93 New Pendings; a 6.9% MoM decrease in All Pendings (new contracts + contracts carried over from November) to 189; and a 12.5% decrease in supply to 279 active units.

This activity resulted in a Contract Ratio of 0.68 pendings per active listing, up from 0.64 in November and a decrease from 0.99 in December 2017. The Contract Ratio is 24% lower than the 5-year December average of 0.90. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller’s favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer’s favor.

How did your zip code and home type fare? DC real estate market data

MarketStats by ShowingTinme are released mid-month of each month. Data shown is for the previous month.

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